If you were in charge of a flexible budget for all of a large retailer's campaigns, what steps would you take to maximize success?

Developing shared budgets and portfolio bid strategies is the most effective approach for a large retailer with a flexible budget. Shared budgets allow Google Ads' AI to allocate funds dynamically across campaigns based on performance, maximizing overall efficiency. Portfolio bid strategies further leverage AI to optimize bidding across multiple campaigns towards a common goal, like maximizing conversions or conversion value, rather than being constrained by individual campaign budgets. This flexibility ensures the budget is spent where it will generate the best results. Defining new performance targets monthly/quarterly is good practice but doesn't directly maximize budget flexibility or AI utilization in the same way. Developing separate budgets for experiments and unforeseen changes adds complexity and can hinder AI's ability to optimize holistically. Capping budgets at average daily spend during seasonal periods would limit potential growth and prevent AI from capitalizing on increased demand.